| 【Company Research】CTGDF (601888 CH) – A weak 3Q on Sanya’s lockdown; resilient online sales made up the gap but unavoidably diluted GPM |
| 【Company Research】Botanee Biotech (300957 CH) – A soft 3Q prompted for an earnings cut |
| 【Company Research】Yili Industrial (600887 CH) – Sequential recovery in-sight |
| 【Company Research】Dingdang Health (9886 HK) – Pioneer in China’s on-demand retail pharmacy industry |
| 【Sector Research】China Consumer – Lacklustre 4Q22E outlook despite any short-lived rally; top buy CRB/ Proya/ CTGDF |
| 【Company Research】Maxscend (300782 CH) – 3Q performance dragged by weak mobile; It is always darkest before dawn |
| 【Company Research】ENN Energy (2688 HK) – 3Q22 operational data in line; smooth progress towards net-zero target |
| 【Company Research】Meituan (3690 HK) – Balancing growth and efficiency |
| 【Company Research】AIA Group Ltd. (1299 HK) – Long-term growth intact, expect 2H22 recovery |
| 【Company Research】Yunkang Group (2325 HK) – Continued solid revenue growth in 9M22 |
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